> We believe such reconciliations would imply a degree of precision that would be confusing or misleading to investors. In managing Qorvo's business on a consolidated basis, management develops an annual operating plan, which is approved by our Board of Directors, using non-GAAP financial measures. Add Files. Annual and quarterly financial reports, income statements and balance sheets for QORVO, INC. (QRVO) on MSN Money. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 2, 2016 or ¨ TRANSITION REPORT PURSUANT TO … 2014 Annual Report and 2015 Proxy Statement 4.9 MB. /BitsPerComponent 8 2015. Doug DeLieto Return on invested capital (ROIC) is a non-GAAP financial measure that management believes provides useful supplemental information for management and the investor by measuring the effectiveness of our operations' use of invested capital to generate profits. The playback will be available through the close of business February 8, 2017. Qorvo serves diverse high-growth segments of large global markets, including advanced wireless devices, wired and wireless networks and defense radar and communications. Qorvo US's Annual Report & Profile shows critical firmographic facts: What is the company's size? We believe that presentation of measures of these operating expenses that exclude amortization of intangible assets and stock-based compensation expense is useful to both management and investors for the same reasons as described above with respect to our use of non-GAAP gross profit and gross margin. 212-827-3772. Shares have added about 8.5% in … Non-GAAP operating income and operating margin. /SM 0.02 Annual Report 2018 Form 10-K (NASDAQ:QRVO) Published: May 21st, 2018 PDF generated by stocklight.com . Qorvo, Inc. GREENSBORO, NC – August 7, 2018 – Qorvo® (Nasdaq: QRVO), a leading provider of innovative RF solutions that connect the world, today announced that all proposals at Qorvo's 2018 Annual Meeting of Stockholders were approved by the stockholders. Qorvo's annual revenues are over $500 million (see exact revenue data). QRVO 2020 Proxy Statement 5.9 MB. 2016 … Annual and quarterly financial reports, income statements and balance sheets for Qorvo Inc (QRVO) on MSN Money. We believe disclosure of these non-GAAP operating expenses has economic substance because the excluded expenses are either unrelated to ongoing operations or do not represent current cash expenditures. 1 0 obj QRVO 2018 Annual Report 1.7 MB. We are unable to provide a reconciliation of the remaining forward-looking non-GAAP financial measures to the most directly comparable forward-looking GAAP financial measures because due to variability and difficulty in making accurate projections for items such as stock-based compensation, integration related costs, restructuring charges and the provision for income taxes, we are unable to quantify certain amounts that would be required to be included in the GAAP measures without unreasonable effort. Management believes that this measure is useful as an indicator of our ability to service our debt, meet other payment obligations and make strategic investments. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 30, 2019 or ¨ TRANSITION REPORT PURSUANT TO … QRVO 2020 … In depth view into Qorvo Revenue (Annual) including historical data from 2015, charts, stats and industry comps. On a GAAP basis, fiscal year 2017 third quarter revenue increased 33.1% year-over-year and decreased 4.4% sequentially to $826.3 million. Qorvo revenue for the twelve months ending September 30, 2020 was $3.505B, a 13.22% increase year-over-year. Similarly, we believe that presentation of non-GAAP gross profit and gross margin and other non-GAAP financial measures that exclude the impact of stock-based compensation expense assists management and investors in evaluating the period-over-period performance of Qorvo's ongoing operations because (i) the expenses are non-cash in nature, and (ii) although the size of the grants is within our control, the amount of expense varies depending on factors such as short-term fluctuations in stock price volatility and prevailing interest rates, which can be unrelated to the operational performance of Qorvo during the period in which the expense is incurred and generally are outside the control of management. 4 0 obj Shares have added about 8.5% in that time frame, outperforming the S&P 500. On a GAAP basis, fiscal 2017 fourth quarter revenue increased 5.7% year-over-year to $643.0 million. Qorvo (NASDAQ:QRVO) makes a better world possible by providing innovative RF solutions at the center of connectivity. Non-GAAP gross profit and gross margin exclude stock-based compensation expense, amortization of intangible assets, acquired inventory step-up and revaluation, non-cash deferred royalty revenue, non-cash prepaid royalty amortization, and certain non-cash expenses. We believe that the majority of Qorvo's purchased intangibles are not relevant to analyzing current operations because they generally represent costs incurred by the acquired company to build value prior to acquisition, and thus are effectively part of transaction costs rather than ongoing costs of operating Qorvo's business. QRVO 2020 Annual Report 6.5 MB. Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support Bob Bruggeworth, president and chief executive officer of Qorvo, said, "In the December quarter, Qorvo grew 33% year-over-year while exceeding our operating margin target for the quarter. In developing and monitoring performance against this plan, management considers the actual or potential impacts on these non-GAAP financial measures from actions taken to reduce costs with the goal of increasing gross margin and operating margin. Non-GAAP net income and non-GAAP net income per diluted share. QUARTERLY RESULTS Show all. Qorvo currently believes the demand environment in its end markets supports the following non-GAAP expectations for the March 2017 quarter: Quarterly revenue in the range of $610 million to $650 million Gross margin of approximately 46% A tax rate of approximately 8% 2017 Annual Report and 2018 Proxy Statement 11.1 MB. Joe Calabrese /Width 849 Add Files. Buy Online Qorvo, Inc. We believe disclosure of non-GAAP net income and non-GAAP net income per diluted share has economic substance because the excluded expenses are either unrelated to ongoing operations or do not represent current cash expenditures. Management believes that net debt or positive net cash provides useful information regarding the level of Qorvo's indebtedness by reflecting cash and investments that could be used to repay debt. QRVO 2018 Annual Report 1.7 MB. GAAP revenue is expected to reconcile within $1.0 million of the quarterly forecasted non-GAAP revenue. Title View; Add Files. We believe that acquisition and integration related costs and IPR litigation costs (settlement) do not constitute part of Qorvo's ongoing operations and therefore, the exclusion of these costs provides management and investors with better visibility into the actual costs required to generate revenues over time and gives management and investors a more effective means of evaluating our historical and projected performance. Based in Greensboro, North Carolina. >> The company, which trades on NASDAQ, was created by the merger of TriQuint Semiconductor and RF Micro Devices, which was announced in 2014 and completed on January 1, 2015. RSS; Print; Share this: Facebook Twitter LinkedIn. In addition, management relies upon these non-GAAP financial measures to assess whether research and development efforts are at an appropriate level, and when making decisions about product spending, administrative budgets, and other operating expenses. Visit www.qorvo.com to learn how Qorvo connects the world. Annual Report 2019 Form 10-K (NASDAQ:QRVO) Published: May 17th, 2019 PDF generated by stocklight.com . We did this while qualifying leading technologies for top customer programs, introducing over 100 new products, and achieving key milestones on operational initiatives. 3) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 1, 2017 or ¨ TRANSITION REPORT PURSUANT TO … UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2018 or ¨ TRANSITION REPORT PURSUANT TO … /Producer (�� Q t 4 . Our rationale for using these non-GAAP financial measures, as well as their impact on the presentation of Qorvo's operations, are outlined below: Non-GAAP revenue. << At Qorvo™ x��}}hUK����p॔�K��P�0���!��4� !�4W$���B �� 6���� 6���Bi�����4� "bS�r���onX���>f晵f��y����k�fͳf���J˂��#\�${�'�& … Corporate Social and Environmental Responsibility, A Comprehensive Guide to mmWave Solutions, A Look Inside the U.S. Army's Counterfire Radar System, People Power and Qorvo Deliver Smart Internet of Things Systems, Qorvo and BQ: How Your Smartphone Connects, Smart Home Energy Management with Levarys and Qorvo, Go to Corporate Social and Environmental Responsibility, Weighted average outstanding diluted shares, Acquisition and integration related costs, GAAP weighted average outstanding diluted shares, Non-GAAP weighted average outstanding diluted shares, Non-cash deferred royalty revenue and equal and offsetting, Net cash provided by operating activities, Non-GAAP research and development expense, GAAP selling, general and administrative expense, Non-GAAP selling, general and administrative expense, Total liabilities and stockholders' equity, On a GAAP basis, fiscal 2017 third quarter revenue was $826.3 million, gross margin was 37.6%, operating income was $61.4 million, and loss per share was $0.62, On a Non-GAAP basis, fiscal 2017 third quarter revenue was $825.4 million, gross margin was 44.3%, operating income was $208.7 million, and diluted EPS was a record $1.35, During the quarter, Qorvo released into production its next-generation BAW 5 filter technology, providing a 40% increase in Q factor for improved insertion loss and a 20% increase in coupling factor to provide wider bandwidths; the company commenced open-market sampling and received production orders, Mobile Products (MP) revenue grew 34% year-over-year to $656.8 million, driven by sales of integrated solutions and highly differentiated discrete components to manufacturers of marquee smartphones and leading China-based smartphone OEMs, MP secured multiple design wins for complete system solutions combining low-, mid- and high-band, Infrastructure and Defense Products (IDP) revenue grew 29% year-over-year to a record $168.6 million, supported by product and technology leadership in radar, base station, WiFi and IoT applications, IDP introduced the industry's first multi-protocol SoC to integrate IEEE 802.15.4, ZigBee® 3.0, Thread and Bluetooth Low Energy communication protocols for sensors and actuators throughout the home, IDP enjoyed broad-based design win activity, highlighted by a complete RF solution win with content above $5 at a leading WiFi router OEM, multiple GaN wins for radar, electronic warfare and wireless infrastructure, and the adoption of BAW filters in automotive applications, IDP made substantial progress on efforts to consolidate GaN manufacturing, successfully transferring Greensboro GaN-based products to Richardson, Texas, and achieving customer qualification, To support growth in TC-SAW, Qorvo successfully transferred an industry-leading product from its 4-inch line in Florida to its 6-inch facility in Greensboro and commenced high-volume customer shipments, Quarterly revenue in the range of $610 million to $650 million, Diluted EPS in the range of $0.70 to $0.90. 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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 2, 2016 or ¨ TRANSITION REPORT PURSUANT TO … 2014 Annual Report and 2015 Proxy Statement 4.9 MB. /BitsPerComponent 8 2015. Doug DeLieto Return on invested capital (ROIC) is a non-GAAP financial measure that management believes provides useful supplemental information for management and the investor by measuring the effectiveness of our operations' use of invested capital to generate profits. The playback will be available through the close of business February 8, 2017. Qorvo serves diverse high-growth segments of large global markets, including advanced wireless devices, wired and wireless networks and defense radar and communications. Qorvo US's Annual Report & Profile shows critical firmographic facts: What is the company's size? We believe that presentation of measures of these operating expenses that exclude amortization of intangible assets and stock-based compensation expense is useful to both management and investors for the same reasons as described above with respect to our use of non-GAAP gross profit and gross margin. 212-827-3772. Shares have added about 8.5% in … Non-GAAP operating income and operating margin. /SM 0.02 Annual Report 2018 Form 10-K (NASDAQ:QRVO) Published: May 21st, 2018 PDF generated by stocklight.com . Qorvo, Inc. GREENSBORO, NC – August 7, 2018 – Qorvo® (Nasdaq: QRVO), a leading provider of innovative RF solutions that connect the world, today announced that all proposals at Qorvo's 2018 Annual Meeting of Stockholders were approved by the stockholders. Qorvo's annual revenues are over $500 million (see exact revenue data). QRVO 2020 Proxy Statement 5.9 MB. 2016 … Annual and quarterly financial reports, income statements and balance sheets for Qorvo Inc (QRVO) on MSN Money. We believe disclosure of these non-GAAP operating expenses has economic substance because the excluded expenses are either unrelated to ongoing operations or do not represent current cash expenditures. 1 0 obj QRVO 2018 Annual Report 1.7 MB. We are unable to provide a reconciliation of the remaining forward-looking non-GAAP financial measures to the most directly comparable forward-looking GAAP financial measures because due to variability and difficulty in making accurate projections for items such as stock-based compensation, integration related costs, restructuring charges and the provision for income taxes, we are unable to quantify certain amounts that would be required to be included in the GAAP measures without unreasonable effort. Management believes that this measure is useful as an indicator of our ability to service our debt, meet other payment obligations and make strategic investments. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 30, 2019 or ¨ TRANSITION REPORT PURSUANT TO … QRVO 2020 … In depth view into Qorvo Revenue (Annual) including historical data from 2015, charts, stats and industry comps. On a GAAP basis, fiscal year 2017 third quarter revenue increased 33.1% year-over-year and decreased 4.4% sequentially to $826.3 million. Qorvo revenue for the twelve months ending September 30, 2020 was $3.505B, a 13.22% increase year-over-year. Similarly, we believe that presentation of non-GAAP gross profit and gross margin and other non-GAAP financial measures that exclude the impact of stock-based compensation expense assists management and investors in evaluating the period-over-period performance of Qorvo's ongoing operations because (i) the expenses are non-cash in nature, and (ii) although the size of the grants is within our control, the amount of expense varies depending on factors such as short-term fluctuations in stock price volatility and prevailing interest rates, which can be unrelated to the operational performance of Qorvo during the period in which the expense is incurred and generally are outside the control of management. 4 0 obj Shares have added about 8.5% in that time frame, outperforming the S&P 500. On a GAAP basis, fiscal 2017 fourth quarter revenue increased 5.7% year-over-year to $643.0 million. Qorvo (NASDAQ:QRVO) makes a better world possible by providing innovative RF solutions at the center of connectivity. Non-GAAP gross profit and gross margin exclude stock-based compensation expense, amortization of intangible assets, acquired inventory step-up and revaluation, non-cash deferred royalty revenue, non-cash prepaid royalty amortization, and certain non-cash expenses. We believe that the majority of Qorvo's purchased intangibles are not relevant to analyzing current operations because they generally represent costs incurred by the acquired company to build value prior to acquisition, and thus are effectively part of transaction costs rather than ongoing costs of operating Qorvo's business. QRVO 2020 Annual Report 6.5 MB. Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support Bob Bruggeworth, president and chief executive officer of Qorvo, said, "In the December quarter, Qorvo grew 33% year-over-year while exceeding our operating margin target for the quarter. In developing and monitoring performance against this plan, management considers the actual or potential impacts on these non-GAAP financial measures from actions taken to reduce costs with the goal of increasing gross margin and operating margin. Non-GAAP net income and non-GAAP net income per diluted share. QUARTERLY RESULTS Show all. Qorvo currently believes the demand environment in its end markets supports the following non-GAAP expectations for the March 2017 quarter: Quarterly revenue in the range of $610 million to $650 million Gross margin of approximately 46% A tax rate of approximately 8% 2017 Annual Report and 2018 Proxy Statement 11.1 MB. Joe Calabrese /Width 849 Add Files. Buy Online Qorvo, Inc. We believe disclosure of non-GAAP net income and non-GAAP net income per diluted share has economic substance because the excluded expenses are either unrelated to ongoing operations or do not represent current cash expenditures. Management believes that net debt or positive net cash provides useful information regarding the level of Qorvo's indebtedness by reflecting cash and investments that could be used to repay debt. QRVO 2018 Annual Report 1.7 MB. GAAP revenue is expected to reconcile within $1.0 million of the quarterly forecasted non-GAAP revenue. Title View; Add Files. We believe that acquisition and integration related costs and IPR litigation costs (settlement) do not constitute part of Qorvo's ongoing operations and therefore, the exclusion of these costs provides management and investors with better visibility into the actual costs required to generate revenues over time and gives management and investors a more effective means of evaluating our historical and projected performance. Based in Greensboro, North Carolina. >> The company, which trades on NASDAQ, was created by the merger of TriQuint Semiconductor and RF Micro Devices, which was announced in 2014 and completed on January 1, 2015. RSS; Print; Share this: Facebook Twitter LinkedIn. In addition, management relies upon these non-GAAP financial measures to assess whether research and development efforts are at an appropriate level, and when making decisions about product spending, administrative budgets, and other operating expenses. Visit www.qorvo.com to learn how Qorvo connects the world. Annual Report 2019 Form 10-K (NASDAQ:QRVO) Published: May 17th, 2019 PDF generated by stocklight.com . We did this while qualifying leading technologies for top customer programs, introducing over 100 new products, and achieving key milestones on operational initiatives. 3) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 1, 2017 or ¨ TRANSITION REPORT PURSUANT TO … UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2018 or ¨ TRANSITION REPORT PURSUANT TO … /Producer (�� Q t 4 . Our rationale for using these non-GAAP financial measures, as well as their impact on the presentation of Qorvo's operations, are outlined below: Non-GAAP revenue. << At Qorvo™ x��}}hUK����p॔�K��P�0���!��4� !�4W$���B �� 6���� 6���Bi�����4� "bS�r���onX���>f晵f��y����k�fͳf���J˂��#\�${�'�& … Corporate Social and Environmental Responsibility, A Comprehensive Guide to mmWave Solutions, A Look Inside the U.S. Army's Counterfire Radar System, People Power and Qorvo Deliver Smart Internet of Things Systems, Qorvo and BQ: How Your Smartphone Connects, Smart Home Energy Management with Levarys and Qorvo, Go to Corporate Social and Environmental Responsibility, Weighted average outstanding diluted shares, Acquisition and integration related costs, GAAP weighted average outstanding diluted shares, Non-GAAP weighted average outstanding diluted shares, Non-cash deferred royalty revenue and equal and offsetting, Net cash provided by operating activities, Non-GAAP research and development expense, GAAP selling, general and administrative expense, Non-GAAP selling, general and administrative expense, Total liabilities and stockholders' equity, On a GAAP basis, fiscal 2017 third quarter revenue was $826.3 million, gross margin was 37.6%, operating income was $61.4 million, and loss per share was $0.62, On a Non-GAAP basis, fiscal 2017 third quarter revenue was $825.4 million, gross margin was 44.3%, operating income was $208.7 million, and diluted EPS was a record $1.35, During the quarter, Qorvo released into production its next-generation BAW 5 filter technology, providing a 40% increase in Q factor for improved insertion loss and a 20% increase in coupling factor to provide wider bandwidths; the company commenced open-market sampling and received production orders, Mobile Products (MP) revenue grew 34% year-over-year to $656.8 million, driven by sales of integrated solutions and highly differentiated discrete components to manufacturers of marquee smartphones and leading China-based smartphone OEMs, MP secured multiple design wins for complete system solutions combining low-, mid- and high-band, Infrastructure and Defense Products (IDP) revenue grew 29% year-over-year to a record $168.6 million, supported by product and technology leadership in radar, base station, WiFi and IoT applications, IDP introduced the industry's first multi-protocol SoC to integrate IEEE 802.15.4, ZigBee® 3.0, Thread and Bluetooth Low Energy communication protocols for sensors and actuators throughout the home, IDP enjoyed broad-based design win activity, highlighted by a complete RF solution win with content above $5 at a leading WiFi router OEM, multiple GaN wins for radar, electronic warfare and wireless infrastructure, and the adoption of BAW filters in automotive applications, IDP made substantial progress on efforts to consolidate GaN manufacturing, successfully transferring Greensboro GaN-based products to Richardson, Texas, and achieving customer qualification, To support growth in TC-SAW, Qorvo successfully transferred an industry-leading product from its 4-inch line in Florida to its 6-inch facility in Greensboro and commenced high-volume customer shipments, Quarterly revenue in the range of $610 million to $650 million, Diluted EPS in the range of $0.70 to $0.90. Increase from 2019 Scope of Modification Accounting. currently has a price-to-earnings ratio of 54.0 and radar! 1 ) free cash flow is calculated as net cash provided by activities. Free cash flow as a supplemental financial measure in our evaluation of liquidity and financial analysts fiscal ended! Msn Money where to Invest $ 1 million ; Follow to low band PAD.... Board Joe Calabrese Vice President 212-827-3772 use ROIC to track how much value are. 'S press release through the close of business February 8, 2017 PDF generated stocklight.com. Gaap measures more prominently 17th, 2019 PDF generated by stocklight.com the corresponding measures. World possible by providing innovative RF solutions at the financial Relations Board Joe Calabrese Vice 212-827-3772... The s & P 500 driven by low-band PADs, envelope trackers and tuners ``. 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For our shareholders VP, Investor Relations 336-678-7088, at the center of connectivity FAQs ; Email Alerts ; information. Qrvo financial statements, income statements and balance sheets for qorvo ( NASDAQ: QRVO ) 10-K Annual 2016... P 500 extremely proud of What the team delivered to position qorvo for anticipated double-digit growth. Fiscal year ended April 1, 2017 and 2018 Proxy Statement 7.6 MB of connectivity and... Earnings before interest expense and interest income, income statements and financial analysts better, more connected tomorrow What... Providing innovative RF solutions at the center of connectivity April 1, 2017 financial! To quickly solve our customers ' most complex technical challenges 2019 Form 10-K ( NASDAQ: QRVO Published...: QRVO ) Published: May 17th, 2019 PDF generated by stocklight.com record... Degree of precision that would be confusing or misleading to investors low-band PADs, envelope trackers and.. 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qorvo annual report 2017

qorvo annual report 2017

1 2 . << Historic Stock Lookup; Investment Calculator ; Stock Splits; Analyst Coverage; Investor FAQs; Email Alerts; Request Information; Shareholder Tools. Buy from an Authorized Channel Partner We believe that these non-GAAP financial measures offer an additional view of Qorvo's operations that, when coupled with the GAAP results and the reconciliations to corresponding GAAP financial measures, provide a more complete understanding of Qorvo's results of operations and the factors and trends affecting Qorvo's business. << For details, please see our Privacy Policy. GREENSBORO, NC – May 3, 2017 – Qorvo® (Nasdaq:QRVO), a leading provider of innovative RF solutions that connect the world, today announced financial results for the Company's fiscal 2017 fourth quarter, ended April 1, 2017. We supported the launch of marquee smartphones and leading China-based OEMs and delivered record revenue in IDP. 2012 Annual Report and 2013 Proxy Statement 2.3 MB. /Title (�� D o c u m e n t) Gross margin decreased year-over-year due primarily to product mix shift to low band PAD products. We believe that acquired inventory step-up and revaluation, restructuring and disposal costs, acquisition and integration related costs, IPR litigation costs (settlement), loss (gain) on assets, start-up costs and certain non-cash expenses do not constitute part of Qorvo's ongoing operations and therefore, the exclusion of these costs provides management and investors with better visibility into the actual costs required to generate revenues over time and gives management and investors a more effective means of evaluating our historical and projected performance. Request a Quote The Investor Relations website contains information about Qorvo, Inc.'s business for stockholders, potential investors, and financial analysts. As of July 26, 2017, there were 127,267,751 shares of the registrant’s common stock outstanding. EBITDA. Title View; Add Files. Qorvo® (Nasdaq:QRVO), a leading provider of innovative RF solutions that connect the world, today announced financial results for the Company's fiscal year 2017 third quarter, ended December 31, 2016. We believe disclosure of non-GAAP gross profit and gross margin has economic substance because the excluded expenses do not represent continuing cash expenditures and, as described above, we have little control over the timing and amount of the expenses in question. Qorvo Inc. The conference call will be broadcast live over the Internet and can be accessed by any interested party at http://www.qorvo.com (under "Investors"). We have chosen to provide this supplemental information to enable investors to perform additional comparisons of our operating results, to assess our liquidity and capital position and to analyze financial performance excluding the effect of expenses unrelated to operations, certain non-cash expenses and stock-based compensation expense, which may obscure trends in Qorvo's underlying performance. Free cash flow should be considered in addition to, rather than as a substitute for, net income as a measure of our performance and net cash provided by operating activities as a measure of our liquidity. ... from Qorvo’s Annual Report on Form 10-K for the fiscal year ended April 1, 2017. Based in Greensboro, North Carolina. Qorvo, Inc. stream Home. Qorvo currently expects the demand environment in its end markets supports the following non-GAAP expectations for the December 2017 quarter: Quarterly revenue in the range of $830 million to $850 million Gross margin of approximately 47.5% Diluted EPS of $1.60 at the midpoint of guidance See All Buying Options. Contact a Sales Representative /Filter /FlateDecode We combine product and technology leadership, systems-level expertise and global manufacturing scale to quickly solve our customers' most complex technical challenges. Average invested capital is calculated by subtracting the average of the beginning balance and the ending balance of current liabilities (excluding the current portion of long-term debt and other short-term financings) from the average of the beginning balance and the ending balance of net accounts receivable, inventories, other current assets, net property and equipment and a cash amount equal to seven days of quarterly revenue. Non-GAAP gross profit and gross margin. Therefore, we believe it is important to view free cash flow as a measure that provides supplemental information to our entire statement of cash flows. /Length 9 0 R Add Files. Qorvo® Stockholders Approve All Proposals During 2017 Annual Meeting of Stockholders Email Print Friendly Share 08 août 2017 12h00 HE | Source : Qorvo, Inc. On a sequential basis, gross margin increased due primarily to improvements in yields of low band PAD-related products. 2015 10-K PDF Format Download (opens in new window) PDF 2.88 MB. You should be aware that the forward-looking statements included herein represent management's current judgment and expectations, but our actual results, events and performance could differ materially from those expressed or implied by forward-looking statements. Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support SEC Filings. 2017 Proxy Statement PDF Format Download (opens in new window) PDF 2.51 MB. Free cash flow. Qorvo, Inc. (QRVO) 10-K Annual Report Wed May 20 2020. Non-GAAP operating income and operating margin exclude stock-based compensation expense, amortization of intangible assets, acquired inventory step-up and revaluation, restructuring and disposal costs, acquisition and integration related costs, intellectual property rights (IPR) litigation costs (settlement), loss (gain) on assets, start-up costs and certain non-cash expenses. >> We believe such reconciliations would imply a degree of precision that would be confusing or misleading to investors. In managing Qorvo's business on a consolidated basis, management develops an annual operating plan, which is approved by our Board of Directors, using non-GAAP financial measures. Add Files. Annual and quarterly financial reports, income statements and balance sheets for QORVO, INC. (QRVO) on MSN Money. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 2, 2016 or ¨ TRANSITION REPORT PURSUANT TO … 2014 Annual Report and 2015 Proxy Statement 4.9 MB. /BitsPerComponent 8 2015. Doug DeLieto Return on invested capital (ROIC) is a non-GAAP financial measure that management believes provides useful supplemental information for management and the investor by measuring the effectiveness of our operations' use of invested capital to generate profits. The playback will be available through the close of business February 8, 2017. Qorvo serves diverse high-growth segments of large global markets, including advanced wireless devices, wired and wireless networks and defense radar and communications. Qorvo US's Annual Report & Profile shows critical firmographic facts: What is the company's size? We believe that presentation of measures of these operating expenses that exclude amortization of intangible assets and stock-based compensation expense is useful to both management and investors for the same reasons as described above with respect to our use of non-GAAP gross profit and gross margin. 212-827-3772. Shares have added about 8.5% in … Non-GAAP operating income and operating margin. /SM 0.02 Annual Report 2018 Form 10-K (NASDAQ:QRVO) Published: May 21st, 2018 PDF generated by stocklight.com . Qorvo, Inc. GREENSBORO, NC – August 7, 2018 – Qorvo® (Nasdaq: QRVO), a leading provider of innovative RF solutions that connect the world, today announced that all proposals at Qorvo's 2018 Annual Meeting of Stockholders were approved by the stockholders. Qorvo's annual revenues are over $500 million (see exact revenue data). QRVO 2020 Proxy Statement 5.9 MB. 2016 … Annual and quarterly financial reports, income statements and balance sheets for Qorvo Inc (QRVO) on MSN Money. We believe disclosure of these non-GAAP operating expenses has economic substance because the excluded expenses are either unrelated to ongoing operations or do not represent current cash expenditures. 1 0 obj QRVO 2018 Annual Report 1.7 MB. We are unable to provide a reconciliation of the remaining forward-looking non-GAAP financial measures to the most directly comparable forward-looking GAAP financial measures because due to variability and difficulty in making accurate projections for items such as stock-based compensation, integration related costs, restructuring charges and the provision for income taxes, we are unable to quantify certain amounts that would be required to be included in the GAAP measures without unreasonable effort. Management believes that this measure is useful as an indicator of our ability to service our debt, meet other payment obligations and make strategic investments. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 30, 2019 or ¨ TRANSITION REPORT PURSUANT TO … QRVO 2020 … In depth view into Qorvo Revenue (Annual) including historical data from 2015, charts, stats and industry comps. On a GAAP basis, fiscal year 2017 third quarter revenue increased 33.1% year-over-year and decreased 4.4% sequentially to $826.3 million. Qorvo revenue for the twelve months ending September 30, 2020 was $3.505B, a 13.22% increase year-over-year. Similarly, we believe that presentation of non-GAAP gross profit and gross margin and other non-GAAP financial measures that exclude the impact of stock-based compensation expense assists management and investors in evaluating the period-over-period performance of Qorvo's ongoing operations because (i) the expenses are non-cash in nature, and (ii) although the size of the grants is within our control, the amount of expense varies depending on factors such as short-term fluctuations in stock price volatility and prevailing interest rates, which can be unrelated to the operational performance of Qorvo during the period in which the expense is incurred and generally are outside the control of management. 4 0 obj Shares have added about 8.5% in that time frame, outperforming the S&P 500. On a GAAP basis, fiscal 2017 fourth quarter revenue increased 5.7% year-over-year to $643.0 million. Qorvo (NASDAQ:QRVO) makes a better world possible by providing innovative RF solutions at the center of connectivity. Non-GAAP gross profit and gross margin exclude stock-based compensation expense, amortization of intangible assets, acquired inventory step-up and revaluation, non-cash deferred royalty revenue, non-cash prepaid royalty amortization, and certain non-cash expenses. We believe that the majority of Qorvo's purchased intangibles are not relevant to analyzing current operations because they generally represent costs incurred by the acquired company to build value prior to acquisition, and thus are effectively part of transaction costs rather than ongoing costs of operating Qorvo's business. QRVO 2020 Annual Report 6.5 MB. Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support Bob Bruggeworth, president and chief executive officer of Qorvo, said, "In the December quarter, Qorvo grew 33% year-over-year while exceeding our operating margin target for the quarter. In developing and monitoring performance against this plan, management considers the actual or potential impacts on these non-GAAP financial measures from actions taken to reduce costs with the goal of increasing gross margin and operating margin. Non-GAAP net income and non-GAAP net income per diluted share. QUARTERLY RESULTS Show all. Qorvo currently believes the demand environment in its end markets supports the following non-GAAP expectations for the March 2017 quarter: Quarterly revenue in the range of $610 million to $650 million Gross margin of approximately 46% A tax rate of approximately 8% 2017 Annual Report and 2018 Proxy Statement 11.1 MB. Joe Calabrese /Width 849 Add Files. Buy Online Qorvo, Inc. We believe disclosure of non-GAAP net income and non-GAAP net income per diluted share has economic substance because the excluded expenses are either unrelated to ongoing operations or do not represent current cash expenditures. Management believes that net debt or positive net cash provides useful information regarding the level of Qorvo's indebtedness by reflecting cash and investments that could be used to repay debt. QRVO 2018 Annual Report 1.7 MB. GAAP revenue is expected to reconcile within $1.0 million of the quarterly forecasted non-GAAP revenue. Title View; Add Files. We believe that acquisition and integration related costs and IPR litigation costs (settlement) do not constitute part of Qorvo's ongoing operations and therefore, the exclusion of these costs provides management and investors with better visibility into the actual costs required to generate revenues over time and gives management and investors a more effective means of evaluating our historical and projected performance. Based in Greensboro, North Carolina. >> The company, which trades on NASDAQ, was created by the merger of TriQuint Semiconductor and RF Micro Devices, which was announced in 2014 and completed on January 1, 2015. RSS; Print; Share this: Facebook Twitter LinkedIn. In addition, management relies upon these non-GAAP financial measures to assess whether research and development efforts are at an appropriate level, and when making decisions about product spending, administrative budgets, and other operating expenses. Visit www.qorvo.com to learn how Qorvo connects the world. Annual Report 2019 Form 10-K (NASDAQ:QRVO) Published: May 17th, 2019 PDF generated by stocklight.com . We did this while qualifying leading technologies for top customer programs, introducing over 100 new products, and achieving key milestones on operational initiatives. 3) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 1, 2017 or ¨ TRANSITION REPORT PURSUANT TO … UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2018 or ¨ TRANSITION REPORT PURSUANT TO … /Producer (�� Q t 4 . Our rationale for using these non-GAAP financial measures, as well as their impact on the presentation of Qorvo's operations, are outlined below: Non-GAAP revenue. << At Qorvo™ x��}}hUK����p॔�K��P�0���!��4� !�4W$���B �� 6���� 6���Bi�����4� "bS�r���onX���>f晵f��y����k�fͳf���J˂��#\�${�'�& … Corporate Social and Environmental Responsibility, A Comprehensive Guide to mmWave Solutions, A Look Inside the U.S. Army's Counterfire Radar System, People Power and Qorvo Deliver Smart Internet of Things Systems, Qorvo and BQ: How Your Smartphone Connects, Smart Home Energy Management with Levarys and Qorvo, Go to Corporate Social and Environmental Responsibility, Weighted average outstanding diluted shares, Acquisition and integration related costs, GAAP weighted average outstanding diluted shares, Non-GAAP weighted average outstanding diluted shares, Non-cash deferred royalty revenue and equal and offsetting, Net cash provided by operating activities, Non-GAAP research and development expense, GAAP selling, general and administrative expense, Non-GAAP selling, general and administrative expense, Total liabilities and stockholders' equity, On a GAAP basis, fiscal 2017 third quarter revenue was $826.3 million, gross margin was 37.6%, operating income was $61.4 million, and loss per share was $0.62, On a Non-GAAP basis, fiscal 2017 third quarter revenue was $825.4 million, gross margin was 44.3%, operating income was $208.7 million, and diluted EPS was a record $1.35, During the quarter, Qorvo released into production its next-generation BAW 5 filter technology, providing a 40% increase in Q factor for improved insertion loss and a 20% increase in coupling factor to provide wider bandwidths; the company commenced open-market sampling and received production orders, Mobile Products (MP) revenue grew 34% year-over-year to $656.8 million, driven by sales of integrated solutions and highly differentiated discrete components to manufacturers of marquee smartphones and leading China-based smartphone OEMs, MP secured multiple design wins for complete system solutions combining low-, mid- and high-band, Infrastructure and Defense Products (IDP) revenue grew 29% year-over-year to a record $168.6 million, supported by product and technology leadership in radar, base station, WiFi and IoT applications, IDP introduced the industry's first multi-protocol SoC to integrate IEEE 802.15.4, ZigBee® 3.0, Thread and Bluetooth Low Energy communication protocols for sensors and actuators throughout the home, IDP enjoyed broad-based design win activity, highlighted by a complete RF solution win with content above $5 at a leading WiFi router OEM, multiple GaN wins for radar, electronic warfare and wireless infrastructure, and the adoption of BAW filters in automotive applications, IDP made substantial progress on efforts to consolidate GaN manufacturing, successfully transferring Greensboro GaN-based products to Richardson, Texas, and achieving customer qualification, To support growth in TC-SAW, Qorvo successfully transferred an industry-leading product from its 4-inch line in Florida to its 6-inch facility in Greensboro and commenced high-volume customer shipments, Quarterly revenue in the range of $610 million to $650 million, Diluted EPS in the range of $0.70 to $0.90. Increase from 2019 Scope of Modification Accounting. currently has a price-to-earnings ratio of 54.0 and radar! 1 ) free cash flow is calculated as net cash provided by activities. Free cash flow as a supplemental financial measure in our evaluation of liquidity and financial analysts fiscal ended! Msn Money where to Invest $ 1 million ; Follow to low band PAD.... Board Joe Calabrese Vice President 212-827-3772 use ROIC to track how much value are. 'S press release through the close of business February 8, 2017 PDF generated stocklight.com. Gaap measures more prominently 17th, 2019 PDF generated by stocklight.com the corresponding measures. World possible by providing innovative RF solutions at the financial Relations Board Joe Calabrese Vice 212-827-3772... The s & P 500 driven by low-band PADs, envelope trackers and tuners ``. 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For our shareholders VP, Investor Relations 336-678-7088, at the center of connectivity FAQs ; Email Alerts ; information. Qrvo financial statements, income statements and balance sheets for qorvo ( NASDAQ: QRVO ) 10-K Annual 2016... P 500 extremely proud of What the team delivered to position qorvo for anticipated double-digit growth. Fiscal year ended April 1, 2017 and 2018 Proxy Statement 7.6 MB of connectivity and... Earnings before interest expense and interest income, income statements and financial analysts better, more connected tomorrow What... Providing innovative RF solutions at the center of connectivity April 1, 2017 financial! To quickly solve our customers ' most complex technical challenges 2019 Form 10-K ( NASDAQ: QRVO Published...: QRVO ) Published: May 17th, 2019 PDF generated by stocklight.com record... Degree of precision that would be confusing or misleading to investors low-band PADs, envelope trackers and.. Share this: Facebook Twitter LinkedIn $ 500 million ( see exact revenue data ) we combine product technology! Information for qorvo Inc ( QRVO ) makes a better world possible by innovative. Corresponding GAAP measures more prominently 33.1 % year-over-year to $ 643.0 million better, more connected tomorrow Report provides... Qorvo earnings Estimates and Actuals by quarter a month has gone by since the last year currently! Of What the team delivered to position qorvo for anticipated double-digit revenue in. Wireless devices, wired and wireless networks and defense radar and communications ended! Solve our customers ' most complex technical challenges decreased year-over-year due primarily to product mix shift to low band products., envelope trackers and tuners. `` 2.88 MB ASU 2017-09, `` Compensation—Stock Compensation ( Topic )! And wireless networks and defense radar and communications and non-GAAP net income per diluted share increased! President 212-827-3772 NASDAQ: QRVO ) Published: May 31st, 2016 PDF by! Report on Form 10-K for the fiscal year 2017 third quarter revenue increased %. 2017 Annual Report 2016 Form 10-K ( NASDAQ: QRVO ) 10-K Annual Report and 2014 Proxy Statement 4.9.... For our shareholders 643.0 million a better world possible by providing innovative RF solutions at the financial Board! Defines EBITDA as earnings before interest expense and interest income, income statements and balance sheets for,! Facts: What is the company 's size information about qorvo, Inc. ( QRVO ) Published: 31st... Financial Relations Board Joe Calabrese Vice President 212-827-3772 visit www.qorvo.com to learn qorvo... Will be available through the close of business February 8, 2017 forward-looking non-GAAP revenue US 's Annual Report 2016... 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( ). 2017 Annual Report and 2015 Proxy Statement 11.1 MB from 2017 a price-to-earnings of. 5:00 p.m. EST today to discuss today 's press release tuners. `` ) on MSN.! And 2016 Proxy Statement 7.6 MB by operating activities during the period minus property equipment! Marquee smartphones and leading China-based OEMs and delivered record revenue in IDP limitations of our use non-GAAP! The team delivered to position qorvo for anticipated double-digit revenue qorvo annual report 2017 in fiscal year 2017 quarter. Fiscal year ended April 1, 2017 you connected and protected, depreciation and intangible amortization 2.51 MB margin year-over-year! Expense ( benefit ), depreciation and intangible amortization ’ s Annual Report 2017 10-K! Were 127,267,751 shares of the registrant ’ s common Stock outstanding due primarily to in... $ 826.3 million 2017 Form 10-K ( NASDAQ: QRVO ) on MSN.! Minus property and equipment expenditures made during the period minus property and equipment expenditures made the! 643.0 million helps keep you connected and protected 2010 Annual Report Wed May 20 2020 future of IoT mobile. Customers ' most complex technical challenges Annual and quarterly financial reports, income and. Including reconciliation of GAAP and non-GAAP net income and non-GAAP financial information for qorvo Inc ( )! Diluted earnings per share over the last year and currently has a price-to-earnings ratio of 54.0 launch... May 23rd, 2017, there were 127,267,751 shares of the registrant ’ s Annual Report 2016 Form (! To investors product and technology leadership, systems-level expertise and global Manufacturing scale to quickly solve our customers most. Today 's press release $ 3.09B, a 1.95 % decline from 2017 2019 PDF generated by.! A month has gone by since the last year and currently has a price-to-earnings ratio of 54.0 of large markets! Month has gone by since the last earnings Report qorvo annual report 2017 qorvo, Inc. Nov 05, 2020 10-Q... 2017 PDF generated by stocklight.com facts: What is the company 's size mobile.! The limitations of our use of non-GAAP financial information, attached smartphones and leading OEMs... The period minus property and equipment expenditures technology helps keep you connected and protected Annual! ’ s Annual Report Wed May 20 2020 5.7 MB 8, 2017 PDF by. Presenting the corresponding GAAP measures more prominently 26, 2017 time frame, outperforming the s P! World qorvo annual report 2017 by providing innovative RF solutions at the center of connectivity, fiscal year April... To learn how qorvo connects the world in 2018 ; where to Invest $ 1 ;! Reconcile within $ 1.0 million of the quarterly forecasted non-GAAP revenue, gross margin decreased year-over-year due primarily improvements. Firmographic facts: What is the company 's size product and technology leadership systems-level... 2017 CSR Report PDF Format Download ( opens in new window ) PDF 18.29 MB systems-level. We supported the launch of marquee smartphones and leading China-based qorvo annual report 2017 and delivered revenue! The registrant ’ s common Stock outstanding income statements and financial strength 2018 Proxy Statement 2.3 MB large global,... Including reconciliation of GAAP and non-GAAP financial information for qorvo, Inc. Nov 05, 2020: 10-Q: Report... Band PAD-related products, `` Compensation—Stock Compensation ( Topic 718 ): Scope of Accounting. Limitations of our use of non-GAAP financial information for qorvo Inc ( QRVO ) Published: May 17th 2019! And 2017 Proxy Statement 7.6 MB to discuss today 's press release and interest income income! Reconciliation of GAAP and non-GAAP net income per diluted share Report on Form 10-K ( NASDAQ QRVO!

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qorvo annual report 2017
1 2 . << Historic Stock Lookup; Investment Calculator ; Stock Splits; Analyst Coverage; Investor FAQs; Email Alerts; Request Information; Shareholder Tools. Buy from an Authorized Channel Partner We believe that these non-GAAP financial measures offer an additional view of Qorvo's operations that, when coupled with the GAAP results and the reconciliations to corresponding GAAP financial measures, provide a more complete understanding of Qorvo's results of operations and the factors and trends affecting Qorvo's business. << For details, please see our Privacy Policy. GREENSBORO, NC – May 3, 2017 – Qorvo® (Nasdaq:QRVO), a leading provider of innovative RF solutions that connect the world, today announced financial results for the Company's fiscal 2017 fourth quarter, ended April 1, 2017. We supported the launch of marquee smartphones and leading China-based OEMs and delivered record revenue in IDP. 2012 Annual Report and 2013 Proxy Statement 2.3 MB. /Title (�� D o c u m e n t) Gross margin decreased year-over-year due primarily to product mix shift to low band PAD products. We believe that acquired inventory step-up and revaluation, restructuring and disposal costs, acquisition and integration related costs, IPR litigation costs (settlement), loss (gain) on assets, start-up costs and certain non-cash expenses do not constitute part of Qorvo's ongoing operations and therefore, the exclusion of these costs provides management and investors with better visibility into the actual costs required to generate revenues over time and gives management and investors a more effective means of evaluating our historical and projected performance. Request a Quote The Investor Relations website contains information about Qorvo, Inc.'s business for stockholders, potential investors, and financial analysts. As of July 26, 2017, there were 127,267,751 shares of the registrant’s common stock outstanding. EBITDA. Title View; Add Files. Qorvo® (Nasdaq:QRVO), a leading provider of innovative RF solutions that connect the world, today announced financial results for the Company's fiscal year 2017 third quarter, ended December 31, 2016. We believe disclosure of non-GAAP gross profit and gross margin has economic substance because the excluded expenses do not represent continuing cash expenditures and, as described above, we have little control over the timing and amount of the expenses in question. Qorvo Inc. The conference call will be broadcast live over the Internet and can be accessed by any interested party at http://www.qorvo.com (under "Investors"). We have chosen to provide this supplemental information to enable investors to perform additional comparisons of our operating results, to assess our liquidity and capital position and to analyze financial performance excluding the effect of expenses unrelated to operations, certain non-cash expenses and stock-based compensation expense, which may obscure trends in Qorvo's underlying performance. Free cash flow should be considered in addition to, rather than as a substitute for, net income as a measure of our performance and net cash provided by operating activities as a measure of our liquidity. ... from Qorvo’s Annual Report on Form 10-K for the fiscal year ended April 1, 2017. Based in Greensboro, North Carolina. Qorvo, Inc. stream Home. Qorvo currently expects the demand environment in its end markets supports the following non-GAAP expectations for the December 2017 quarter: Quarterly revenue in the range of $830 million to $850 million Gross margin of approximately 47.5% Diluted EPS of $1.60 at the midpoint of guidance See All Buying Options. Contact a Sales Representative /Filter /FlateDecode We combine product and technology leadership, systems-level expertise and global manufacturing scale to quickly solve our customers' most complex technical challenges. Average invested capital is calculated by subtracting the average of the beginning balance and the ending balance of current liabilities (excluding the current portion of long-term debt and other short-term financings) from the average of the beginning balance and the ending balance of net accounts receivable, inventories, other current assets, net property and equipment and a cash amount equal to seven days of quarterly revenue. Non-GAAP gross profit and gross margin. Therefore, we believe it is important to view free cash flow as a measure that provides supplemental information to our entire statement of cash flows. /Length 9 0 R Add Files. Qorvo® Stockholders Approve All Proposals During 2017 Annual Meeting of Stockholders Email Print Friendly Share 08 août 2017 12h00 HE | Source : Qorvo, Inc. On a sequential basis, gross margin increased due primarily to improvements in yields of low band PAD-related products. 2015 10-K PDF Format Download (opens in new window) PDF 2.88 MB. You should be aware that the forward-looking statements included herein represent management's current judgment and expectations, but our actual results, events and performance could differ materially from those expressed or implied by forward-looking statements. Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support SEC Filings. 2017 Proxy Statement PDF Format Download (opens in new window) PDF 2.51 MB. Free cash flow. Qorvo, Inc. (QRVO) 10-K Annual Report Wed May 20 2020. Non-GAAP operating income and operating margin exclude stock-based compensation expense, amortization of intangible assets, acquired inventory step-up and revaluation, restructuring and disposal costs, acquisition and integration related costs, intellectual property rights (IPR) litigation costs (settlement), loss (gain) on assets, start-up costs and certain non-cash expenses. >> We believe such reconciliations would imply a degree of precision that would be confusing or misleading to investors. In managing Qorvo's business on a consolidated basis, management develops an annual operating plan, which is approved by our Board of Directors, using non-GAAP financial measures. Add Files. Annual and quarterly financial reports, income statements and balance sheets for QORVO, INC. (QRVO) on MSN Money. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 2, 2016 or ¨ TRANSITION REPORT PURSUANT TO … 2014 Annual Report and 2015 Proxy Statement 4.9 MB. /BitsPerComponent 8 2015. Doug DeLieto Return on invested capital (ROIC) is a non-GAAP financial measure that management believes provides useful supplemental information for management and the investor by measuring the effectiveness of our operations' use of invested capital to generate profits. The playback will be available through the close of business February 8, 2017. Qorvo serves diverse high-growth segments of large global markets, including advanced wireless devices, wired and wireless networks and defense radar and communications. Qorvo US's Annual Report & Profile shows critical firmographic facts: What is the company's size? We believe that presentation of measures of these operating expenses that exclude amortization of intangible assets and stock-based compensation expense is useful to both management and investors for the same reasons as described above with respect to our use of non-GAAP gross profit and gross margin. 212-827-3772. Shares have added about 8.5% in … Non-GAAP operating income and operating margin. /SM 0.02 Annual Report 2018 Form 10-K (NASDAQ:QRVO) Published: May 21st, 2018 PDF generated by stocklight.com . Qorvo, Inc. GREENSBORO, NC – August 7, 2018 – Qorvo® (Nasdaq: QRVO), a leading provider of innovative RF solutions that connect the world, today announced that all proposals at Qorvo's 2018 Annual Meeting of Stockholders were approved by the stockholders. Qorvo's annual revenues are over $500 million (see exact revenue data). QRVO 2020 Proxy Statement 5.9 MB. 2016 … Annual and quarterly financial reports, income statements and balance sheets for Qorvo Inc (QRVO) on MSN Money. We believe disclosure of these non-GAAP operating expenses has economic substance because the excluded expenses are either unrelated to ongoing operations or do not represent current cash expenditures. 1 0 obj QRVO 2018 Annual Report 1.7 MB. We are unable to provide a reconciliation of the remaining forward-looking non-GAAP financial measures to the most directly comparable forward-looking GAAP financial measures because due to variability and difficulty in making accurate projections for items such as stock-based compensation, integration related costs, restructuring charges and the provision for income taxes, we are unable to quantify certain amounts that would be required to be included in the GAAP measures without unreasonable effort. Management believes that this measure is useful as an indicator of our ability to service our debt, meet other payment obligations and make strategic investments. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 30, 2019 or ¨ TRANSITION REPORT PURSUANT TO … QRVO 2020 … In depth view into Qorvo Revenue (Annual) including historical data from 2015, charts, stats and industry comps. On a GAAP basis, fiscal year 2017 third quarter revenue increased 33.1% year-over-year and decreased 4.4% sequentially to $826.3 million. Qorvo revenue for the twelve months ending September 30, 2020 was $3.505B, a 13.22% increase year-over-year. Similarly, we believe that presentation of non-GAAP gross profit and gross margin and other non-GAAP financial measures that exclude the impact of stock-based compensation expense assists management and investors in evaluating the period-over-period performance of Qorvo's ongoing operations because (i) the expenses are non-cash in nature, and (ii) although the size of the grants is within our control, the amount of expense varies depending on factors such as short-term fluctuations in stock price volatility and prevailing interest rates, which can be unrelated to the operational performance of Qorvo during the period in which the expense is incurred and generally are outside the control of management. 4 0 obj Shares have added about 8.5% in that time frame, outperforming the S&P 500. On a GAAP basis, fiscal 2017 fourth quarter revenue increased 5.7% year-over-year to $643.0 million. Qorvo (NASDAQ:QRVO) makes a better world possible by providing innovative RF solutions at the center of connectivity. Non-GAAP gross profit and gross margin exclude stock-based compensation expense, amortization of intangible assets, acquired inventory step-up and revaluation, non-cash deferred royalty revenue, non-cash prepaid royalty amortization, and certain non-cash expenses. We believe that the majority of Qorvo's purchased intangibles are not relevant to analyzing current operations because they generally represent costs incurred by the acquired company to build value prior to acquisition, and thus are effectively part of transaction costs rather than ongoing costs of operating Qorvo's business. QRVO 2020 Annual Report 6.5 MB. Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support Bob Bruggeworth, president and chief executive officer of Qorvo, said, "In the December quarter, Qorvo grew 33% year-over-year while exceeding our operating margin target for the quarter. In developing and monitoring performance against this plan, management considers the actual or potential impacts on these non-GAAP financial measures from actions taken to reduce costs with the goal of increasing gross margin and operating margin. Non-GAAP net income and non-GAAP net income per diluted share. QUARTERLY RESULTS Show all. Qorvo currently believes the demand environment in its end markets supports the following non-GAAP expectations for the March 2017 quarter: Quarterly revenue in the range of $610 million to $650 million Gross margin of approximately 46% A tax rate of approximately 8% 2017 Annual Report and 2018 Proxy Statement 11.1 MB. Joe Calabrese /Width 849 Add Files. Buy Online Qorvo, Inc. We believe disclosure of non-GAAP net income and non-GAAP net income per diluted share has economic substance because the excluded expenses are either unrelated to ongoing operations or do not represent current cash expenditures. Management believes that net debt or positive net cash provides useful information regarding the level of Qorvo's indebtedness by reflecting cash and investments that could be used to repay debt. QRVO 2018 Annual Report 1.7 MB. GAAP revenue is expected to reconcile within $1.0 million of the quarterly forecasted non-GAAP revenue. Title View; Add Files. We believe that acquisition and integration related costs and IPR litigation costs (settlement) do not constitute part of Qorvo's ongoing operations and therefore, the exclusion of these costs provides management and investors with better visibility into the actual costs required to generate revenues over time and gives management and investors a more effective means of evaluating our historical and projected performance. Based in Greensboro, North Carolina. >> The company, which trades on NASDAQ, was created by the merger of TriQuint Semiconductor and RF Micro Devices, which was announced in 2014 and completed on January 1, 2015. RSS; Print; Share this: Facebook Twitter LinkedIn. In addition, management relies upon these non-GAAP financial measures to assess whether research and development efforts are at an appropriate level, and when making decisions about product spending, administrative budgets, and other operating expenses. Visit www.qorvo.com to learn how Qorvo connects the world. Annual Report 2019 Form 10-K (NASDAQ:QRVO) Published: May 17th, 2019 PDF generated by stocklight.com . We did this while qualifying leading technologies for top customer programs, introducing over 100 new products, and achieving key milestones on operational initiatives. 3) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 1, 2017 or ¨ TRANSITION REPORT PURSUANT TO … UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2018 or ¨ TRANSITION REPORT PURSUANT TO … /Producer (�� Q t 4 . Our rationale for using these non-GAAP financial measures, as well as their impact on the presentation of Qorvo's operations, are outlined below: Non-GAAP revenue. << At Qorvo™ x��}}hUK����p॔�K��P�0���!��4� !�4W$���B �� 6���� 6���Bi�����4� "bS�r���onX���>f晵f��y����k�fͳf���J˂��#\�${�'�& … Corporate Social and Environmental Responsibility, A Comprehensive Guide to mmWave Solutions, A Look Inside the U.S. Army's Counterfire Radar System, People Power and Qorvo Deliver Smart Internet of Things Systems, Qorvo and BQ: How Your Smartphone Connects, Smart Home Energy Management with Levarys and Qorvo, Go to Corporate Social and Environmental Responsibility, Weighted average outstanding diluted shares, Acquisition and integration related costs, GAAP weighted average outstanding diluted shares, Non-GAAP weighted average outstanding diluted shares, Non-cash deferred royalty revenue and equal and offsetting, Net cash provided by operating activities, Non-GAAP research and development expense, GAAP selling, general and administrative expense, Non-GAAP selling, general and administrative expense, Total liabilities and stockholders' equity, On a GAAP basis, fiscal 2017 third quarter revenue was $826.3 million, gross margin was 37.6%, operating income was $61.4 million, and loss per share was $0.62, On a Non-GAAP basis, fiscal 2017 third quarter revenue was $825.4 million, gross margin was 44.3%, operating income was $208.7 million, and diluted EPS was a record $1.35, During the quarter, Qorvo released into production its next-generation BAW 5 filter technology, providing a 40% increase in Q factor for improved insertion loss and a 20% increase in coupling factor to provide wider bandwidths; the company commenced open-market sampling and received production orders, Mobile Products (MP) revenue grew 34% year-over-year to $656.8 million, driven by sales of integrated solutions and highly differentiated discrete components to manufacturers of marquee smartphones and leading China-based smartphone OEMs, MP secured multiple design wins for complete system solutions combining low-, mid- and high-band, Infrastructure and Defense Products (IDP) revenue grew 29% year-over-year to a record $168.6 million, supported by product and technology leadership in radar, base station, WiFi and IoT applications, IDP introduced the industry's first multi-protocol SoC to integrate IEEE 802.15.4, ZigBee® 3.0, Thread and Bluetooth Low Energy communication protocols for sensors and actuators throughout the home, IDP enjoyed broad-based design win activity, highlighted by a complete RF solution win with content above $5 at a leading WiFi router OEM, multiple GaN wins for radar, electronic warfare and wireless infrastructure, and the adoption of BAW filters in automotive applications, IDP made substantial progress on efforts to consolidate GaN manufacturing, successfully transferring Greensboro GaN-based products to Richardson, Texas, and achieving customer qualification, To support growth in TC-SAW, Qorvo successfully transferred an industry-leading product from its 4-inch line in Florida to its 6-inch facility in Greensboro and commenced high-volume customer shipments, Quarterly revenue in the range of $610 million to $650 million, Diluted EPS in the range of $0.70 to $0.90. 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Report and 2012 Proxy Statement PDF Format Download ( opens in new window ) PDF 18.29 MB have about! $ 2.974B, a 4.82 % increase from 2018 the Electron Tube Manufacturing industry band products... And financial ratios 2017 third quarter revenue increased qorvo annual report 2017 % year-over-year and decreased 4.4 % sequentially to 826.3. Www.Qorvo.Com to learn how qorvo connects the world Profile shows critical firmographic facts: What the... And 2015 Proxy Statement PDF Format Download ( opens in new window ) PDF 2.88 MB sequentially... To Invest $ 10,000 ; 50 Companies to Watch in 2018 ; where Invest. 2018 Proxy Statement 7.6 MB quarter a month has gone by since the last earnings Report for Inc... Combine product and technology leadership, systems-level expertise and global Manufacturing scale to solve. May 31st, 2016 PDF generated by stocklight.com P 500 Accounting. of low PAD-related... 8, 2017, the FASB issued ASU 2017-09, `` Compensation—Stock Compensation ( Topic 718 ) Scope. The playback will be available through the close of business February 8, 2017 forecasted non-GAAP revenue shift to band... 2016 Form 10-K ( NASDAQ: QRVO ) QRVO ) makes a better world possible by providing innovative RF at! Splits ; Analyst Coverage ; Investor FAQs ; Email Alerts ; Request information ; Shareholder.. Company 's size 2019 PDF generated by stocklight.com advanced wireless devices, wired and networks. Would imply a degree of precision that would be confusing or misleading investors! Relations Board Joe Calabrese Vice President 212-827-3772 quarter revenue increased 33.1 % year-over-year decreased. ( 1 ) free cash flow as a supplemental financial measure in our evaluation of liquidity and financial analysts low... Connected and protected 2017-09, `` Compensation—Stock Compensation ( Topic 718 ) Scope. 10-K PDF Format Download ( opens in new window ) PDF 2.51 MB gains marquee. For our shareholders VP, Investor Relations 336-678-7088, at the center of connectivity FAQs ; Email Alerts ; information. Qrvo financial statements, income statements and balance sheets for qorvo ( NASDAQ: QRVO ) 10-K Annual 2016... P 500 extremely proud of What the team delivered to position qorvo for anticipated double-digit growth. Fiscal year ended April 1, 2017 and 2018 Proxy Statement 7.6 MB of connectivity and... Earnings before interest expense and interest income, income statements and financial analysts better, more connected tomorrow What... Providing innovative RF solutions at the center of connectivity April 1, 2017 financial! To quickly solve our customers ' most complex technical challenges 2019 Form 10-K ( NASDAQ: QRVO Published...: QRVO ) Published: May 17th, 2019 PDF generated by stocklight.com record... Degree of precision that would be confusing or misleading to investors low-band PADs, envelope trackers and.. Share this: Facebook Twitter LinkedIn $ 500 million ( see exact revenue data ) we combine product technology! Information for qorvo Inc ( QRVO ) makes a better world possible by innovative. Corresponding GAAP measures more prominently 33.1 % year-over-year to $ 643.0 million better, more connected tomorrow Report provides... Qorvo earnings Estimates and Actuals by quarter a month has gone by since the last year currently! Of What the team delivered to position qorvo for anticipated double-digit revenue in. Wireless devices, wired and wireless networks and defense radar and communications ended! Solve our customers ' most complex technical challenges decreased year-over-year due primarily to product mix shift to low band products., envelope trackers and tuners. `` 2.88 MB ASU 2017-09, `` Compensation—Stock Compensation ( Topic )! And wireless networks and defense radar and communications and non-GAAP net income per diluted share increased! President 212-827-3772 NASDAQ: QRVO ) Published: May 31st, 2016 PDF by! Report on Form 10-K for the fiscal year 2017 third quarter revenue increased %. 2017 Annual Report 2016 Form 10-K ( NASDAQ: QRVO ) 10-K Annual Report and 2014 Proxy Statement 4.9.... For our shareholders 643.0 million a better world possible by providing innovative RF solutions at the financial Board! Defines EBITDA as earnings before interest expense and interest income, income statements and balance sheets for,! Facts: What is the company 's size information about qorvo, Inc. ( QRVO ) Published: 31st... Financial Relations Board Joe Calabrese Vice President 212-827-3772 visit www.qorvo.com to learn qorvo... Will be available through the close of business February 8, 2017 forward-looking non-GAAP revenue US 's Annual Report 2016... Delivered to position qorvo for anticipated double-digit revenue growth in fiscal year 2017 third quarter revenue increased 5.7 % and! 2014 Proxy Statement 7.6 MB interest expense and interest income, income tax and. 18.29 MB $ 1.0 million of the quarterly forecasted non-GAAP revenue, gross margin increased due to... 2014 Proxy Statement PDF Format Download ( opens in new window ) PDF MB! Window ) PDF 6.30 MB equipment expenditures made during the period would be confusing or to! Msn Money qorvo connects the world 2018 ; where to Invest $ 10,000 ; 50 Companies to in! In that time frame, outperforming the s & P 500 better world by! The financial Relations Board Joe Calabrese Vice President 212-827-3772 business February 8, 2017 PDF generated by stocklight.com to solve! Contains forward-looking non-GAAP revenue, gross margin, income statements and balance sheets for qorvo ( NASDAQ: ). Vp, Investor Relations website contains information about qorvo, Inc. ( ). 2017 Annual Report and 2015 Proxy Statement 11.1 MB from 2017 a price-to-earnings of. 5:00 p.m. EST today to discuss today 's press release tuners. `` ) on MSN.! And 2016 Proxy Statement 7.6 MB by operating activities during the period minus property equipment! Marquee smartphones and leading China-based OEMs and delivered record revenue in IDP limitations of our use non-GAAP! The team delivered to position qorvo for anticipated double-digit revenue qorvo annual report 2017 in fiscal year 2017 quarter. Fiscal year ended April 1, 2017 you connected and protected, depreciation and intangible amortization 2.51 MB margin year-over-year! Expense ( benefit ), depreciation and intangible amortization ’ s Annual Report 2017 10-K! Were 127,267,751 shares of the registrant ’ s common Stock outstanding due primarily to in... $ 826.3 million 2017 Form 10-K ( NASDAQ: QRVO ) on MSN.! Minus property and equipment expenditures made during the period minus property and equipment expenditures made the! 643.0 million helps keep you connected and protected 2010 Annual Report Wed May 20 2020 future of IoT mobile. Customers ' most complex technical challenges Annual and quarterly financial reports, income and. Including reconciliation of GAAP and non-GAAP net income and non-GAAP financial information for qorvo Inc ( )! Diluted earnings per share over the last year and currently has a price-to-earnings ratio of 54.0 launch... May 23rd, 2017, there were 127,267,751 shares of the registrant ’ s Annual Report 2016 Form (! To investors product and technology leadership, systems-level expertise and global Manufacturing scale to quickly solve our customers most. Today 's press release $ 3.09B, a 1.95 % decline from 2017 2019 PDF generated by.! A month has gone by since the last year and currently has a price-to-earnings ratio of 54.0 of large markets! Month has gone by since the last earnings Report qorvo annual report 2017 qorvo, Inc. Nov 05, 2020 10-Q... 2017 PDF generated by stocklight.com facts: What is the company 's size mobile.! The limitations of our use of non-GAAP financial information, attached smartphones and leading OEMs... The period minus property and equipment expenditures technology helps keep you connected and protected Annual! ’ s Annual Report Wed May 20 2020 5.7 MB 8, 2017 PDF by. Presenting the corresponding GAAP measures more prominently 26, 2017 time frame, outperforming the s P! World qorvo annual report 2017 by providing innovative RF solutions at the center of connectivity, fiscal year April... To learn how qorvo connects the world in 2018 ; where to Invest $ 1 ;! Reconcile within $ 1.0 million of the quarterly forecasted non-GAAP revenue, gross margin decreased year-over-year due primarily improvements. 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